GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

GST Rate Cut Makes a Good Case for Frequent Elections, Says Chidambaram

When the GST council reduced the number of items attracting the top 28 per cent tax rate to just 50 from 228 in November2017, Chidambaram had said the decision had been taken to further the chances of the BJP in Gujarat where the election was due then.

PTI

Updated:July 22, 2018, 1:37 PM IST
facebookTwittergoogleskypewhatsapp
GST Rate Cut Makes a Good Case for Frequent Elections, Says Chidambaram
File photo of senior Congress leader and former Finance Minister P Chidambaram. (PTI)
Loading...
New Delhi: Congress leader P Chidambaram on Sunday took a dig at the government for reducing GST rates on nearly 100 items ahead of assembly elections in four states, saying holding frequent polls is good for the people.

In a series of tweets, Chidambaram said the present Goods and Services Tax regime is still "unreformed" and the government must notify three rates immediately and signal its intention to move to a single rate in the medium term, which will be the true GST.

"When elections are around the corner, government cuts rates. I suppose that makes a good case for frequent elections in different states!," he said.

"The GST Council cuts rates on 100 items, approves quarterly returns. Belated wisdom. Why did Government not follow our advice in July 2017?

"There are many other lacunae in the GST law. I doubt if the government has the will or the skill to remove these lacunae," he said.

The GST Council in its 28th meeting on Saturday approved rate reductions for 88 consumer-centric items such as cosmetics, refrigerators, washing machines, and small screen televisions, and cleared the widely demanded exemption on sanitary napkins.

Assembly elections are due in Rajasthan, Madhya Pradesh, Chhattisgarh and Mizoram later this year.

When the GST council reduced the number of items attracting the top 28 per cent tax rate to just 50 from 228 in November last year, Chidambaram had said the decision had been taken to further the chances of the BJP in Gujarat where the election was due then.

"Thank you Gujarat. Your elections did what Parliament and common sense could not do," he had tweeted then.
| Edited by: Ahona Sengupta
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 788.65 -13.08
Reliance 1,151.30 -1.07
Infosys 705.35 1.45
Dewan Housing 235.90 -12.24
Yes Bank 231.90 -6.83
Company Price Change %Gain
Reliance 1,148.90 -1.27
Indiabulls Hsg 788.85 -13.17
La Opala RG 215.25 0.00
Dewan Housing 236.30 -12.34
Infosys 704.50 1.16
Top Gainers
Company Price Change %Gain
HCL Tech 1,024.25 2.08
Infosys 705.35 1.45
ITC 286.45 1.34
Wipro 323.15 1.29
Coal India 279.90 1.27
Company Price Change %Gain
ITC 286.35 1.34
Wipro 324.00 1.20
Infosys 704.50 1.16
Coal India 279.65 1.14
HUL 1,561.05 1.08
Top Losers
Company Price Change %Gain
Indiabulls Hsg 788.65 -13.08
Bajaj Finance 2,150.50 -6.86
Yes Bank 231.90 -6.83
Adani Ports 313.90 -5.83
BPCL 285.15 -5.61
Company Price Change %Gain
Yes Bank 231.75 -6.85
Adani Ports 314.30 -5.62
Maruti Suzuki 6,878.70 -3.79
Tata Motors 179.20 -3.40
Tata Steel 554.65 -3.39

Live TV

Loading...
Loading...